Poll: Who should acquire & bailout MtGox?

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

Quote from: gollum on February 28, 2014, 12:15:56 PM

Quote from: StarfishPrime on February 28, 2014, 12:10:55 PM

Quote from: gollum on February 28, 2014, 11:48:48 AM

Quote from: StarfishPrime on February 28, 2014, 11:46:41 AM

Anyone who's cheering the demise of Mt.Gox and thinks that this is somehow "good for bitcoin" etc. has seriously misread the current situation.

6-7% of all bitcoins in the hands of unknown criminals is very, very bad for bitcoin and will have repercussions, both short and long term, that we can't even begin to fathom at this point.

Exchanges worldwide have already been served with subpoenas. There is ample evidence that large scale blockchain mapping efforts have been underway for quite some time now. Some groups already have evidence to at least partially substantiate Mt.Gox's "malleability" hacking claims.

Hopefully at least some of these coins will be traced/seized/recovered. It's difficult to completely obfuscate 6-7% of all bitcoins over several years without slipping up somewhere.

That's why we should consider inflating away the bitcoins held by thieves: raise the max bitcoins to 21 billions ( 1 BTC will be worth $0,5)

... or maybe we could just peg them to Dogecoin at 1:1.

But seriously - this could be a difficult test for the 'fungibility' of bitcoin. If the coins are somehow tracked, should they really be considered untainted or could this lead to legitimization of the black- or redlisting that's been previously proposed?

Blacklisting 1 million coins implies that they are out of the market, therefore we need to raise the max limit of bitcoin supply corresponding ( 21 + 1 million btc = 22 million btc max)

once they hit a big mixer like satoshi dice or btc-e,it would be more or less impossible to prove they were anybodys from gox

also changing the core principals of bitcoin is wrong imo ,the coins can be split down to 0.000000001
which leaves 21 billion satoshis ? theres no need for everyone to keep thinking of full coins as they become
harder to mine and more valuable

caston

hero member

Activity: 756

Merit: 500

That premine might not even be Satoshis. He posted bitcoin on a cryptography mailing list so anyone on that list could have potentially been an early miner.

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Satoshi!

He could launder his premine and all are happy. Pure win-win.

overc

sr. member

Activity: 263

Merit: 250

Mt.Gox do not need to be bailed-out.
They have 22M cash and well-know brand.
No external investors need.
There is the clear and simple plan how to ressurect Mt.Gox:
https://bitcointalksearch.org/topic/resurrection-of-mtgox-492748

btcxyzzz

legendary

Activity: 888

Merit: 1000

Monero - secure, private and untraceable currency.

Risky move, but Winkle bros could maybe bailout Gox and that would have huge positive effect on price, I think it would skyrocket immediately and actually the could earn something.

shawshankinmate37927

hero member

Activity: 854

Merit: 1000

Bitcoin: The People's Bailout

Quote from: johnyj on February 28, 2014, 12:06:06 PM

That is the beauty of bitcoin: No bail out, no too big to fail

And also a lesson to be very careful about centralized exchanges, users should never have large exposure on those platforms

+1

Those who are looking for a bailout are in the wrong currency.

shawshankinmate37927

hero member

Activity: 854

Merit: 1000

Bitcoin: The People's Bailout

Quote from: thelema93 on February 28, 2014, 07:58:17 AM

I think the fact that most users of this forum voted "Nobody. Let MtGox die and clients lose all BTC and fiat." reflect very badly on the character of these individuals.

It's only 42% that have voted for this, most are actually voting for a bailout. I wonder how many of them would be willing to put their money where their mouth is and contribute to a bailout fund. Seems pretty silly to vote for what someone else should do with their money.

joehal

member

Activity: 93

Merit: 10

To users with holdings in gox:

https://bitcointalksearch.org/topic/open-letter-to-mark-karpeles-voluntary-reorganization-best-option-for-us-all-489949 (Voluntary Reorganization Best Option for Us All)

http://www.reddit.com/r/Bitcoin/comments/1yyrvf/open_letter_to_mark_karpeles_voluntary/

Now is the chance for the first time to build a truly transparent and crowd sourced exchange. 1 million people have the interest in doing so.
No need for external investors. Take whatever money they still have, kick Karpeles out and elect a capable committee for running the safest and most transparent exchange ever.
After a few years, there is a chance the fees will gather enough profit to pay the 1 million owners.

"Nobody. Let MtGox die and clients lose all BTC and fiat." this is a stupid idea for everyone

While a GOX rebirth will encourage the newbies that a private bank can fail, but a public run exchange (like bitcoin itself) is better, and it cannot fail.

It will be a great example to the world. All the news/media proclaiming the death of bitcoin because of GOX, will look like idiots.

gollum

sr. member

Activity: 434

Merit: 250

In Hashrate We Trust!

Quote from: StarfishPrime on February 28, 2014, 12:10:55 PM

Quote from: gollum on February 28, 2014, 11:48:48 AM

Quote from: StarfishPrime on February 28, 2014, 11:46:41 AM

Anyone who's cheering the demise of Mt.Gox and thinks that this is somehow "good for bitcoin" etc. has seriously misread the current situation.

6-7% of all bitcoins in the hands of unknown criminals is very, very bad for bitcoin and will have repercussions, both short and long term, that we can't even begin to fathom at this point.

Exchanges worldwide have already been served with subpoenas. There is ample evidence that large scale blockchain mapping efforts have been underway for quite some time now. Some groups already have evidence to at least partially substantiate Mt.Gox's "malleability" hacking claims.

Hopefully at least some of these coins will be traced/seized/recovered. It's difficult to completely obfuscate 6-7% of all bitcoins over several years without slipping up somewhere.

That's why we should consider inflating away the bitcoins held by thieves: raise the max bitcoins to 21 billions ( 1 BTC will be worth $0,5)

... or maybe we could just peg them to Dogecoin at 1:1.

But seriously - this could be a difficult test for the 'fungibility' of bitcoin. If the coins are somehow tracked, should they really be considered untainted or could this lead to legitimization of the black- or redlisting that's been previously proposed?

Blacklisting 1 million coins implies that they are out of the market, therefore we need to raise the max limit of bitcoin supply corresponding ( 21 + 1 million btc = 22 million btc max)

StarfishPrime

sr. member

Activity: 358

Merit: 250

Quote from: gollum on February 28, 2014, 11:48:48 AM

Quote from: StarfishPrime on February 28, 2014, 11:46:41 AM

Anyone who's cheering the demise of Mt.Gox and thinks that this is somehow "good for bitcoin" etc. has seriously misread the current situation.

6-7% of all bitcoins in the hands of unknown criminals is very, very bad for bitcoin and will have repercussions, both short and long term, that we can't even begin to fathom at this point.

Exchanges worldwide have already been served with subpoenas. There is ample evidence that large scale blockchain mapping efforts have been underway for quite some time now. Some groups already have evidence to at least partially substantiate Mt.Gox's "malleability" hacking claims.

Hopefully at least some of these coins will be traced/seized/recovered. It's difficult to completely obfuscate 6-7% of all bitcoins over several years without slipping up somewhere.

That's why we should consider inflating away the bitcoins held by thieves: raise the max bitcoins to 21 billions ( 1 BTC will be worth $0,5)

... or maybe we could just peg them to Dogecoin at 1:1.

But seriously - this could be a difficult test for the 'fungibility' of bitcoin. If the coins are somehow tracked, should they really be considered untainted or could this lead to legitimization of the black- or redlisting that's been previously proposed?

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

That is the beauty of bitcoin: No bail out, no too big to fail

And also a lesson to be very careful about centralized exchanges, users should never have large exposure on those platforms

gollum

sr. member

Activity: 434

Merit: 250

In Hashrate We Trust!

Quote from: StarfishPrime on February 28, 2014, 11:46:41 AM

Anyone who's cheering the demise of Mt.Gox and thinks that this is somehow "good for bitcoin" etc. has seriously misread the current situation.

6-7% of all bitcoins in the hands of unknown criminals is very, very bad for bitcoin and will have repercussions, both short and long term, that we can't even begin to fathom at this point.

Exchanges worldwide have already been served with subpoenas. There is ample evidence that large scale blockchain mapping efforts have been underway for quite some time now. Some groups already have evidence to at least partially substantiate Mt.Gox's "malleability" hacking claims.

Hopefully at least some of these coins will be traced/seized/recovered. It's difficult to completely obfuscate 6-7% of all bitcoins over several years without slipping up somewhere.

That's why we should consider inflating away the bitcoins held by thieves: raise the max bitcoins to 21 billions ( 1 BTC will be worth $0,5)

StarfishPrime

sr. member

Activity: 358

Merit: 250

Anyone who's cheering the demise of Mt.Gox and thinks that this is somehow "good for bitcoin" etc. has seriously misread the current situation.

6-7% of all bitcoins in the hands of unknown criminals is very, very bad for bitcoin and will have repercussions, both short and long term, that we can't even begin to fathom at this point.

Exchanges worldwide have already been served with subpoenas. There is ample evidence that large scale blockchain mapping efforts have been underway for quite some time now. Some groups already have evidence to at least partially substantiate Mt.Gox's "malleability" hacking claims.

Hopefully at least some of these coins will be traced/seized/recovered. It's difficult to completely obfuscate 6-7% of all bitcoins over several years without slipping up somewhere.

shadyz

member

Activity: 66

Merit: 10

Everyone that got dooped needs to acquire gox including all famous bitcoiners and all creditors (they already should be given at least equity in the company)

thelema93

sr. member

Activity: 339

Merit: 250

I think the fact that most users of this forum voted "Nobody. Let MtGox die and clients lose all BTC and fiat." reflect very badly on the character of these individuals.

gollum

sr. member

Activity: 434

Merit: 250

In Hashrate We Trust!

Quote from: johnny211 on February 28, 2014, 06:19:23 AM

Quote from: franky1 on February 28, 2014, 02:48:32 AM

why would anyone pay $420mill (744k coin at ~ $570) for a website that has lost customer confidence, that does noy have banking licences in each country.

Just the KYC archives would be worth billions to someone like google, esp. combined with blockchain forensics and other google data mining efforts. But why would they pay off the holders?

NSA would be the highest bidders of course Wink

But they don't buy it directly, instead through several layers of middlemen so nobody finds out.
Or through Google that will handle over the info directly

techstorm3

newbie

Activity: 27

Merit: 0

Quote from: marhjan on February 26, 2014, 10:04:19 PM

True unregulated capitalism - let the infection that is MtGox die and rot... please!

ditto

johnny211

full member

Activity: 170

Merit: 104

Quote from: johnny211 on February 28, 2014, 06:19:23 AM

Quote from: franky1 on February 28, 2014, 02:48:32 AM

why would anyone pay $420mill (744k coin at ~ $570) for a website that has lost customer confidence, that does noy have banking licences in each country.

Just the KYC archives would be worth billions to someone like google, esp. combined with blockchain forensics and other google data mining efforts. But why would they pay off the holders?

Come to think of it, coughing up a few hundred mil to provide some recovery for holders and then watching where the money goes might be a reason

johnny211

full member

Activity: 170

Merit: 104

Quote from: franky1 on February 28, 2014, 02:48:32 AM

why would anyone pay $420mill (744k coin at ~ $570) for a website that has lost customer confidence, that does noy have banking licences in each country.

Just the KYC archives would be worth billions to someone like google, esp. combined with blockchain forensics and other google data mining efforts. But why would they pay off the holders?

coins101

legendary

Activity: 1456

Merit: 1000

My small BTC exposure just fcuking exodussed out with Gox.

Bankruptcy protection just means wiping the slate clean. No chance of recovering assets.

Whoever buys Gox will just get the customers accounts and the domain names. The administrators and lawyers will rape the company of the cash it has.

The platform is fcuked. By the time someone fixes it or replaces it, other exchanges will be up and the existing ones will take over the market share.

Who is going to trade with Gox again after wiping out so many people and $5bn off BTC market cap?

Value is sub $5m.

Topic: Poll: Who should acquire & bailout MtGox? (Read 4491 times)